Chelsea and Liverpool have received a massive blow in their chase for Sevilla midfielder Ivan Rakitic, after the Spainish club publically announced he’ll be signing a new deal shortly, TalkSPORT reports.

After an impressive season winning the Europa League with Sevilla, the Croatian is one of the most coveted midfielders in Europe.

Rakitic currently has a little over one left in his contract, alerting European giants such as Liverpool, Chelsea, Real Madrid, and Napoli for his signature.

However Sevilla president Jose Castro Carmona has come out to say that the 26-year-old is ending rumours of his departure by looking to sign a new contract in the coming weeks

Carmona told Mediaset: “There are no problems with Rakitic, he has another year on his contract, and our goal is to get him to sign a new three-year agreement shortly.”

The former Schalke man has scored 15 goals, as well as providing 13 assists in all competitions this campaign.

Rakitic is also in the Croatia squad for this summer’s World Cup in Brazil.